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Which of the following is out of order in the ideal application of the scientific method?
Opportunity Costs
The cost of foregone alternatives when one option is chosen over another, representing the benefits that could have been received by taking the alternate action.
Expected NPV
Net Present Value expected from an investment, taking into account the probability of various outcomes.
Full-Ride Scholarship
A scholarship that covers all the expenses of a student’s education, including tuition, room, board, and possibly other costs.
Probability
A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.
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